Matteson

Matteson v. Bank of Italy

Good Law
1929 Cal. App. LEXIS 761·97 Cal. App. 643·275 P. 998
Court of Appeal of CaliforniaMarch 18, 1929Docket No. 6593.California1,942 words

Opinion

Lead Opinion

Norton, J.

In this case plaintiff, a married woman, took certain stock of the Security Fire Insurance Company of Davenport, Iowa, her separate property, to defendant bank and handed it to a clerk at the bank to have it sent to Davenport to collect the money for the purchase price of the stock. She indorsed the stock and signed a sight draft which was presented to her by the clerk, and instructed • the clerk to deposit the money for her in the bank when it was received. Her husband was in the bank at the time talking with its manager, but was not near enough to participate in or hear the conversation with the clerk.

Plaintiff and her husband had a joint account in the savings department of the bank, which is the only account either of them had with the bank prior to the receipt of this money, but apparently the purchase price of the stock was not deposited in this account nor to the -credit of the wife, but was by the bank paid to her husband or deposited to his account, from which he withdrew it to make other investments.

The bank did not notify plaintiff of the receipt of the money for the stock nor that it had been paid to her husband, but her husband advised her shortly after its…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.